LRQ Mortgage Characteristics Requested

To describe the characteristics of a mortgage requested by the applicant(s)

Position
Element
Name
Type
Requirement
Min
Max
Repeat
LRQ-01
Monetary Amount
Decimal number (R)
Mandatory
1
15
-
Monetary amount.
LRQ01 is the principal amount requested.
LRQ-02
Percent
Decimal number (R)
Optional
1
10
-
Percentage expressed as a decimal
LRQ02 is the loan requested interest rate percent.
LRQ-03
Rate/Value Qualifier
Identifier (ID)
Conditional
2
2
-
Code qualifying how to extend charges or interpret value.
P0304: If either LRQ-03 or LRQ-04 is present, then the other is required
LRQ03 is the period type for payment frequency.
LRQ-04
Monetary Amount
Decimal number (R)
Conditional
1
15
-
Monetary amount.
LRQ04 is the initial periodic principal and interest payment.
LRQ-05
Type of Residence Code
Identifier (ID)
Optional
1
1
-
Code identifying type of residence.
LRQ05 defines intended property use.
LRQ-06
Contact Method Code
Identifier (ID)
Optional
1
1
-
Code indicating the type of contact.
LRQ06 defines the method of conduct of the interview.
LRQ-07
Yes/No Condition or Response Code
Identifier (ID)
Optional
1
1
-
Code indicating a Yes or No condition or response.
LRQ07 defines if the loan is an assumption of existing loan. A ``Y'' indicates it is an assumption. A ``N'' indicates it is not.
LRQ-08
Assumption Terms Code
Identifier (ID)
Optional
1
1
-
Code indicating the terms for loan assumption.
LRQ08 defines the nature of assumption when LRQ06 = Y (Yes).
LRQ-09
Loan Purpose Code
Identifier (ID)
Optional
2
2
-
Code identifying the reason the loan is needed.
LRQ09 defines the loan purpose. If LRQ09 = 05, then LRQ12 is required.
If LRQ09 is ``14 - Other Loan Purpose Code," then LRQ20 is required.
LRQ-10
Purpose of Refinance Code
Identifier (ID)
Optional
2
2
-
Code identifying the reason a refinance is needed.
LRQ10 defines purpose of refinance.
LRQ-11
Monetary Amount
Decimal number (R)
Optional
1
15
-
Monetary amount.
LRQ11 is the total amount of existing liens.
LRQ-12
Monetary Amount
Decimal number (R)
Optional
1
15
-
Monetary amount.
LRQ12 is the total amount of debts paid by proceeds.
LRQ-13
Description
String (AN)
Optional
1
80
-
A free-form description to clarify the related data elements and their content.
LRQ13 is legislative reference of a government loan program.
LRQ-14
Description
String (AN)
Optional
1
80
-
A free-form description to clarify the related data elements and their content.
LRQ14 is the name of the lender's program for this loan.
LRQ-15
Real Estate Loan Type Code
Identifier (ID)
Optional
1
1
-
Code identifying the loan product category.
If LRQ15 is ``7 - Other Real Estate Loan Type," then LRQ16 is required.
LRQ-16
Description
String (AN)
Optional
1
80
-
A free-form description to clarify the related data elements and their content.
LRQ-17
Loan Payment Type Code
Identifier (ID)
Optional
2
2
-
Code identifying the nature of loan payment.
If LRQ17 is ``01-ARM'' or ``13 - Other Loan Payment Type,'' then LRQ18 is required.
LRQ-18
Description
String (AN)
Optional
1
80
-
A free-form description to clarify the related data elements and their content.
LRQ-19
Number
Numeric (N0)
Optional
1
9
-
A generic number
LRQ19 is the mortgage term expressed in months.
LRQ-20
Description
String (AN)
Optional
1
80
-
A free-form description to clarify the related data elements and their content.

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